2: Podcasting freedom and how to build a multimillion dollar podcast business with John Lee Dumas

John Lee Dumas is the Founder and Host of EntrepreneurOnFire, awarded ‘Best of iTunes 2013′. John interviews today's most inspiring and successful Entrepreneurs 7-days a week and has been featured in Forbes, INC, & TIME Magazine. John has turned EntrepreneurOnFire into a business that generates over $200,000 a month & shares all the detials via his monthly income reports at EOFire.com/income. John also founded the #1 Podcasting community in the world; Podcasters' Paradise; a community where over 1200 Podcasters learn how to create, grow, and monetize their podcast in a supportive environment. EntrepreneurOnFire generates over 750,000 unique listens a month & recaps of these 700 plus episodes

In this episode we talk about:

What did he think about podcasting before launching his business?

What kind of impact podcasting done to his business?

Being an avid listener of podcasting and reader of Entrepreneurship books that led him to very successful Online Entrepreneur

His willingness to put the time and effort to to be an Entrepreneur On Fire

How podcasting changed his business since he started in 2012

How to find unique opportunity in finding own Niche?

The Unique Value Distinguisher

Why podcasting is so hot all of a sudden?

The perfect times for consuming a podcast

The massive directories where every podcasts can be found which brings massive traffic every single day

The importance of creating podcasts that we are passionate about

Being focus to make a unique, valuable and distinguish show as possible

The EOFire (The Entrepreneur on Fire)

John Lee’s objectives to inspire people, a mission to share , a mindset of abundance and focusing on the positives

The health and overall success of EOFire

How they manage failures?

Their pretty big failures experienced but heading to massive success

The importance of sharing their income report to their listeners to avoid the same mistakes that they made

The definition of success and failures

When someone is considering a podcast as a medium, how do I know if it's for me?

“The reality is this, there's pros and cons. I guess, if you want to kind of look at as a con, there's just a ton of people podcasting. I don’t ever believe a market is truly saturated. I just feel like you need to find your own niche, in your own actual place in your world. There's never saturation point. There's always a place to dive deeper. But there's definitely a ton more people podcasting. The barrier has been lowered as far as the East start podcasting. But the reality is this, there's a ton more people listening to podcast. There wasn't these massive audience of potential listeners when I launched my podcast and now there is. There's millions and millions of people that listen and love podcast that didn't in 2012. So it's a huge opportunity for people that want to learn a podcast and find a niche. I call it the UVD (The Unique Value Distinguisher) and dive in.”

How often should I podcast?

“Focus in doing a podcast seven days a week”

What are the first mistakes that podcasters often make?

“They are missing the main point. The main point is the question I'm asking are for the guest to tell a unique story. A story that theirs personally that nobody else has experienced. Nobody's had the exact same worst entrepreneurial moments when they break it down to the base level and actually take us into that story.”

What are the most important things to consider?

“Podcasting is becoming massive and people are just seeing it as a great way to share free valuable and consistent content to build an audience. It's definitely hot right now.”

“The thing about podcasting is this, you don't have to say no to something else, to say yes to podcasting.”

“All these times that we can have to ourselves, those are times that are perfect for consuming podcast that you really can't be doing anything else. It's kind of like unique medium that people are really getting a whole dove and loving it for sight because it's free, on demand targeted content. Meaning, you don't pay anything, you get it when you want it, where you want it and how you want it and exactly what you want, what content you can choose. If you don't like entrepreneurship, well maybe you will like not so deep, just a podcaster by comedienne. That's pretty darn funny. You can find your show.”

“So think about what you as a business want to rank for. Whatever that is, you can rank for that word by delivering a really high quality valuable podcast and following the tips, tools and tactics. You really make sure that you have the keywords in place and you are doing things right. You will rank for your keywords and drive traffic for your podcast where you are going to be look at as a credible and authority figure talking about your topics and converting customers.”

“One thing I did focus in doing was creating a very unique, valuable and distinguishable show which I referred to as a UVD. I think that you really need to focus on being as unique as possible, as valuable as possible, and as distinguishable as possible, as soon as possible.”

Which podcast should I follow, why and how often?

“I love the big podcast by Shaquille O’Neil. I think that is hysterical. That's kind of like my little guilty pleasure podcast that I listen to pretty darn often. A couple of ones that I've always been my go to that I just can't ever get away from. You know are just some of the classics. I love Planet Money. I like freakonomics. I'm actually an investor in a company called Gimlet media who launched a couple of podcasts called start-up and reply all in a mystery show. And I actually love both start-up and reply all. I think those are great shows. And I love hearing that they set up an income report actually in their own where they generating two million dollars in revenue for this year. This is their first year on Business. Completely from podcast sponsorships.”

“Tim Ferris new podcast, the Tim Ferris show is definitely a classic. I definitely tune in every so often to that. Overall, my podcast lists actually pretty darn full. I go to a lot of audio content.”

Ronsley is the founder & chief day dreamer at AMPLIFY. He is an author, speaker & serial entrepreneur.

He has a Masters’ degree in Software Engineering and an MBA in Psychology and Leadership. He is known as the creator of We Are Podcast – the first Podcasting Conference in the Southern Hemisphere, and the host of The Bond Appetit Podcast and Should I Start a Podcast. He has an audience of over 3 million in 133 countries.